TAIPEI, June 19 Standard Chartered is
planning to sell a 1 billion yuan bond in Taiwan, two brokerage
sources familiar with the matter said on Wednesday, in the
second such bond to be issued by a global bank.
The Asia-focused bank is set to apply for approval for the
issue from Taiwan regulators later this month, targeting retail
investors, the sources said, who asked not be identified as the
matter is yet to be public.
A StanChart official in Taipei declined to comment when
asked by Reuters.
The three-year issue would be the second following Deutsche
Bank, which priced a 1 billion yuan ($163.2
million)bond at a 2.45 percent coupon rate earlier in June.
China and Taiwan signed an agreement in September for the
establishment of a clearing system for yuan transactions on the
island, setting the stage for local and foreign banks to launch
The yuan bonds, dubbed "Formosa Bonds" in Taiwan, are the
equivalent of Hong Kong's dim sum bonds.